Larry has an annual return of $213 from $3,000 invested at simple interest. Some at 5% and the rest at 8%. How much is invested at each rate? I need to understand how to solve this problem , so can you show me the steps and logic that you use to solve it?
THanks!!

You need to solve this for n:



Where n is the number of days that the 5% interest rate was applied.

Do you understand how i made that equation?

Actually, I think it may be simpler than that.

Let x=amount invested at 5%



Solve for x.

Ohhh, I worked it out for 3000 invested for n days at 5% and 365-n days at 8%.

I didn't interpret the question properly, but was interesting nonetheless.

Well done gal :)